Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash, cash equivalents, and restricted cash of $16 $ 235,873 $ 382,140
Commissions receivable 8,453 17,230
Prepaid expenses 9,411 13,220
Income tax receivable 8,682 0
Marketable debt securities, available-for-sale (includes amortized cost of $254,682 and $183,915 at December 31, 2022 and 2021, respectively, and $0 allowance for credit losses) 253,434 183,868
Advances and loans, net 4,005 6,403
Other assets, current 7,282 5,270
Total current assets 527,140 608,131
Property and equipment, net 27,644 23,192
Operating lease right-of-use assets, net 87,945 81,528
Marketable debt securities, available-for-sale (includes amortized cost of $72,819 and $111,858 at December 31, 2022 and 2021, respectively, and $0 allowance for credit losses) 68,595 112,610
Assets held in rabbi trust 9,553 11,508
Deferred tax assets, net 41,321 33,736
Goodwill and other intangible assets, net 55,696 48,105
Advances and loans, net 169,955 113,242
Other assets, non-current 15,859 13,146
Total assets 1,003,708 1,045,198
Current liabilities:    
Accounts payable and accrued expenses 11,450 15,487
Deferred compensation and commissions 75,321 114,685
Income tax payable 0 17,853
Operating lease liabilities 16,984 18,973
Accrued bonuses and other employee related expenses 38,327 49,848
Other liabilities, current 9,933 8,784
Total current liabilities 152,015 225,630
Deferred compensation and commissions 64,461 53,536
Operating lease liabilities 65,109 58,334
Other liabilities, non-current 8,614 11,394
Total liabilities 290,199 348,894
Commitments and contingencies 0 0
Stockholders’ equity:    
Preferred stock 0 0
Common stock 4 4
Additional paid-in capital 131,541 121,844
Retained earnings 585,581 573,546
Accumulated other comprehensive income (3,617) 910
Total stockholders’ equity 713,509 696,304
Total liabilities and stockholders’ equity $ 1,003,708 $ 1,045,198